There are a few ship manufacturers in Polonia and each firm faces a downward sloping demand curve. The ship-building industry in Polonia is an example of a(n) ________
A) perfect competition
B) monopolistic competition
C) monopoly
D) oligopoly
D
Economics
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Out of all advertising spending, the largest share goes to
A) television ads. B) false advertising. C) direct marketing. D) newspaper ads.
Economics
What relationship exists between marginal revenue and the elasticity of demand? Use this relationship to explain how a monopoly can increase its profit if demand is inelastic.
What will be an ideal response?
Economics